Morgan Stanley Trims Holdings in Sanmina Corp (NASDAQ:SANM)

Morgan Stanley cut its stake in Sanmina Corp (NASDAQ:SANM) by 18.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 727,303 shares of the electronics maker’s stock after selling 166,028 shares during the quarter. Morgan Stanley’s holdings in Sanmina were worth $19,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SANM. PNC Financial Services Group Inc. increased its position in Sanmina by 9.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,637 shares of the electronics maker’s stock worth $159,000 after purchasing an additional 416 shares during the last quarter. NorthCoast Asset Management LLC grew its stake in shares of Sanmina by 3.3% in the 1st quarter. NorthCoast Asset Management LLC now owns 13,367 shares of the electronics maker’s stock valued at $365,000 after buying an additional 423 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Sanmina by 1.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 55,719 shares of the electronics maker’s stock worth $1,908,000 after buying an additional 549 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Sanmina by 67.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,410 shares of the electronics maker’s stock valued at $38,000 after buying an additional 570 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Sanmina by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 28,039 shares of the electronics maker’s stock valued at $765,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

A number of equities research analysts have commented on the company. Citigroup lifted their target price on Sanmina from $22.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Zacks Investment Research lowered shares of Sanmina from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Cfra decreased their target price on shares of Sanmina from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, April 28th. BidaskClub cut shares of Sanmina from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 20th. Finally, ValuEngine lowered shares of Sanmina from a “hold” rating to a “sell” rating in a report on Thursday, May 21st. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has an average rating of “Sell” and a consensus target price of $32.67.

SANM stock opened at $25.02 on Wednesday. The business’s fifty day moving average price is $26.19 and its 200 day moving average price is $28.46. Sanmina Corp has a 12-month low of $18.34 and a 12-month high of $34.96. The company has a current ratio of 1.58, a quick ratio of 1.16 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.63 billion, a PE ratio of 17.02, a P/E/G ratio of 1.22 and a beta of 0.93.

Sanmina (NASDAQ:SANM) last issued its quarterly earnings results on Monday, April 27th. The electronics maker reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.23). Sanmina had a return on equity of 10.40% and a net margin of 1.44%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Research analysts predict that Sanmina Corp will post 1.63 EPS for the current fiscal year.

In other Sanmina news, SVP Brent Billinger sold 922 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $27.35, for a total transaction of $25,216.70. Following the sale, the senior vice president now directly owns 18,742 shares in the company, valued at approximately $512,593.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.73% of the stock is owned by corporate insiders.

About Sanmina

Sanmina Corporation provides integrated manufacturing solutions, components, products and repair, logistics, and after-market services worldwide. It operates in two segments, Integrated Manufacturing Solutions; and Components, Products and Services. The company offers product design and engineering, including concept development, detailed design, prototyping, validation, preproduction, and manufacturing design release; manufacturing solutions of components, subassemblies, and complete systems; final system assembly and test services; direct order fulfillment and logistics services; after-market product service and support; and supply chain management services.

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Institutional Ownership by Quarter for Sanmina (NASDAQ:SANM)

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